Ranch Capital Advisors Inc. Sells 329 Shares of Prudential Financial, Inc. (NYSE:PRU)

Ranch Capital Advisors Inc. lessened its stake in shares of Prudential Financial, Inc. (NYSE:PRU) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,761 shares of the financial services provider’s stock after selling 329 shares during the quarter. Ranch Capital Advisors Inc.’s holdings in Prudential Financial were worth $446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Grove Bank & Trust boosted its position in shares of Prudential Financial by 65.9% during the 4th quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 87 shares in the last quarter. Centricity Wealth Management LLC bought a new position in Prudential Financial in the 4th quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new position in Prudential Financial in the 3rd quarter valued at about $31,000. CGC Financial Services LLC lifted its position in Prudential Financial by 82.1% in the 4th quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in Prudential Financial in the 4th quarter valued at about $33,000. Institutional investors own 56.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley dropped their price target on shares of Prudential Financial from $136.00 to $128.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Evercore ISI raised shares of Prudential Financial from an “underperform” rating to an “inline” rating and lifted their target price for the stock from $117.00 to $140.00 in a research report on Thursday, November 14th. Keefe, Bruyette & Woods dropped their target price on shares of Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Finally, Barclays lifted their target price on shares of Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $126.15.

Prudential Financial Stock Up 1.1 %

Prudential Financial stock opened at $111.35 on Monday. Prudential Financial, Inc. has a 1-year low of $104.44 and a 1-year high of $130.55. The firm has a market capitalization of $39.86 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.98 and a beta of 1.28. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $115.53 and a 200 day simple moving average of $119.78.

Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, analysts predict that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.35 per share. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is 72.29%.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.